WORLD_ North Korea Built an Alternative Financial System Using a Shadowy Network of Traders

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North Korea Built an Alternative Financial System Using a Shadowy Network of Traders

Regime moves millions of dollars around the world despite sanctions and pressure on international banks


Photo: U.S. authorities have accused Singapore trading company Wee Tiong of helping North Korea launder money. Annabelle Liang/Associated Press


By Niharika Mandhana and Aruna Viswanatha
Dec. 28, 2018 10:48 a.m. ET


It was a familiar problem for North Korea.

A timber company it controlled in Africa had earned $100,000 by selling wood to a Chinese firm. Pyongyang needed the money to pay its foreign suppliers of oil and other critical products.

But U.S. and international sanctions, intended to force North Korea to give up its nuclear program, limit its...

READ MORE: https://www.wsj.com/articles/north-korea-built-an-alternative-financial-system-using-a-shadowy-network-of-traders-11546012082


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